Prime Ministers of Viet Nam and Hungary Strengthen Bilateral Business Ties

Budapest, The Gulf Observer: Prime Minister Phạm Minh Chính of Việt Nam and his Hungarian counterpart Viktor Orbán participated in a Việt Nam-Hungary business forum in Budapest on January 19.

The event, co-hosted by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy in Hungary, and the Hungarian Export Promotion Agency, aimed at fostering economic collaboration between the two nations.

PM Chính highlighted Việt Nam’s remarkable economic transformation, evolving into one of the world’s top 40 economies with an average income per capita reaching nearly $4,300 in 2023. Despite global challenges in the past year, Việt Nam sustained macroeconomic stability, controlled inflation, and achieved a GDP growth rate of 5.05%. Việt Nam’s strategic focus includes improving legal frameworks, developing infrastructure, and human resources training to enhance corporate competitiveness.

Expressing Việt Nam’s commitment to long-term goals, PM Chính emphasized the country’s dedication to traditional and new driving forces, including the digital, green, circular, and sharing economies. He assured businesses of a supportive environment that balances the interests of the State, citizens, and businesses.

Encouraging Hungarian investors, PM Chính invited them to explore opportunities for expanding investment cooperation in Việt Nam. Hungarian Prime Minister Orbán voiced support for the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Việt Nam Investment Protection Agreement (EVIPA), advocating for swift ratification by other EU member states.

To overcome geographical challenges, PM Orbán suggested exploring direct flights between Việt Nam and Hungary to foster people-to-people exchanges and promote investment cooperation. He highlighted the significant presence of Vietnamese students in Hungary and expressed hope for them to become ambassadors nurturing ties between the nations.

During his visit to Gedeon Richter Plc, a major pharmaceutical company in Central and Eastern Europe, PM Chính acknowledged the firm’s contributions to Việt Nam’s healthcare sector. He encouraged increased collaboration, support, and technology transfer for the production of specialized and rare drugs based on Vietnam’s medicinal herbs. The discussions reaffirm the commitment of both nations to deepening economic ties and mutual cooperation.